I thought you meant those quoted "professional" and "corporate" as a joke. Also, "enterprisey" is generally understood as meaning overly complex and convoluted, so that's not a good thing to go for.
So, since you want help — I don't know much about Prototype, but it's enough to make your code completely fall apart, line by line:
I don't see this working at all. select() returns an array, which doesn't have a cloneNode method. Let's pretend this somehow works, though, to see what the rest of your code does:
var display = $('ulDiv').select('.items').cloneNode(true);
Syntax error, you're missing the dot before setStyle.
Also, select still returns an array, which doesn't have a setStyle method.
Also, select searches the descendants of display, but display itself (and not one if its descendants) has class 'items', so it will return an empty array.
Syntax error, completely wrong usage of quotes.
backgroundImage: "url("' + items.image + '")";
Same thing as above, none of this works, because select returns an array.
display.select('.shade1').innerHTML = items.title;
display.select('.shade2').href = items.link;
Also, shade2 isn't a link but a span, so setting its href property is useless.
Also, shade2 is nested inside shade1, so once you set shade1's innerHTML property, shade2 will be gone anyway and select will return an empty array.
'lulDiv' is probably just a typo, but still.
So, there you go. Those were more issues than lines of code.
Also, I have no idea what 'spotlightentry' is supposed to be, since it's not in your code. (Generally, cloning like this is ok, btw; it sounded like you were trying to do something else on first read-through, because of that missing piece of information.) And you still haven't shown the actual loop.
All in all I'd say you shouldn't aim to be "professional" or "corporate" or any of those meaningless words, you should just take some time to learn the tools you are working with.
Anyway, I've moved this to the frameworks forum. Maybe someone feels like cleaning up your code there.